Posted by PJM/MI on 1/28/06 3:36pm
Msg #92100

Residental Loan Application

Maybe I missed a post or two on this subject, but have you all noticed the application now has a signature at the TOP of page 1? I wasn't aware there a change on the darn things until I started seeing it more and more. I talked to a LO and he informed me the form changed about a month ago. I see where there isn't the intial lines at the bottom anymore.
Hope no one misses the new signature lines!
Wouldn't it be nice if SOMEONE would tell us of changes being made? There was nothing in the wonder NNA periodical or on their wonderful website, and if there was, was I the only one who missed it?

Reply by PAW_Fl on 1/28/06 3:49pm
Msg #92102

You may want to read the thread starting with msg #85490 that was posted on 1/1/06. It explains a lot about the new 1003, requirements and ramifications.

FYI - The form has been 'available' since July '05, but mandatory after 1/1/06.

Also, you may want to do a search. You'd be surprised how good it works.

Reply by Raimond_CA on 1/28/06 4:01pm
Msg #92104

You are always so on target Paul..... N/M

Reply by FlaMac on 1/28/06 7:02pm
Msg #92128

No search needed furthermore it's impossible to weed..

thru much of the malarky that is posted. Not to mention that the search feature on this site isn't the best or most user friendly. Kind of like some of the folks who visit this site. It took me one minute to answer someone's valid question pertaining to something useful.

Reply by Charles_Ca on 1/28/06 8:42pm
Msg #92145

That certainly sounded like a gratuitous swipe at the

community! If you find this site so lacking and the population distasteful why bother adding to the malarkey (and yes, it is spelled with an "e")?

Reply by TitleGalCA on 1/28/06 9:16pm
Msg #92152

Re: No search needed furthermore it's impossible to weed..

***the search feature on this site isn't the best or most user friendly***

Is that right. I suggest you get your own notary forum since you know so much about what is wrong with this one. You're a jerk, FlaMac.

I find it interesting that you didn't acknowledge Paul's post as it was helpful and on point to the original question. Perhaps 'searching' is too tall an order for you?

***It took me one minute to answer someone's valid question pertaining to something useful.*** Not. You didn't answer this one, did you? You haven't offered one thing to this community. Go away Troll.

Reply by PAW_Fl on 1/28/06 9:27pm
Msg #92154

Re: No search needed furthermore it's impossible to weed..

Most of the malarkey I find is the constant moaning and bitching about things that don't suit the poster. Well, a very smart man once said that it is impossible to build something that would be acceptable to everyone. Given that, it seems that the majority of the folks here manage very well with the way things are. I will be first to say that there are some things I don't really care for, but, it is the way this forum is and I will live, read and post within those bounds. If YOU don't like it, you are free to go elsewhere. You are free to start your own community and set your own rules.

BTW, rather than moaning and complaining, why didn't you answer the question that you said I didn't.

Reply by PAW_Fl on 1/28/06 9:29pm
Msg #92155

Punctuation correction:

BTW, rather than moaning and complaining, why didn't you answer the question that you said I didn't?

Reply by BrendaTx on 1/28/06 11:36pm
Msg #92168

Re: No search...weed... OMG PAW-FL


**BTW, rather than moaning and complaining, why didn't you answer the question that you said I didn't.**

PAW THIS IS AWFUL. After all this time...it's just too terrible...

I think I feel attracted to you.

LOL...

Reply by CaliNotary on 1/29/06 1:29pm
Msg #92211

Re: No search...weed... OMG PAW-FL

Looks like we finally brought another one over to the dark side. I knew we could wear him down!

Reply by MichiganAl on 1/29/06 4:21pm
Msg #92222

Why bother searching...

Because though it may be easier to tell someone the answer, it is more helpful to show them how to find the answer instead. Do you do your kids math homework for them or show them how to figure out the answer themselves?

Reply by FlaMac on 1/30/06 8:01am
Msg #92258

Freddie Mac/Fanny Mae updated the form starting in Jan. 2006. Borrower's must sign at the top of page one. MAKE SURE THEY INITIAL THE BOTTOM OF PAGE ONE ALSO..seems redundent but they added the signature line at the top and left the initial lines at the bottom. Ridiculous! Below is part of the article...

"You may have already seen a change on some of the 1003 Universal Residential Applications (URLA), if not you should soon.

As of January 1, 2006 Lenders are suppose to be switching over to a new 1003-URLA. This new form will have a signature area in the upper right hand corner.

Reply by PA_NOTARY on 1/28/06 6:56pm
Msg #92126

from what i understand, if you are not married and apply for a loan, two applications must be filled out; maybe this is blending both borrowers, related or not.

Reply by PAW_Fl on 1/28/06 8:56pm
Msg #92146

It's always been that way, if the borrowers were not applying jointly. Even if the borrowers are married, they may be able to apply separately for credit, and therefore would not necessarily be listed on the same 1003. However, if two borrowers are shown on the same 1003, then there used to be a need for an addendum that stated the borrowers were applying for joint credit. Historically, that addendum was not used, and the Fed ruled that simply signing the 1003 (for accuracy and completeness), or jointly signing the Note, did not qualify as a "joint" application, thus the modification at the top of page 1.

Reply by FlaMac on 1/28/06 6:58pm
Msg #92127

It's the Feds..lol.. new 2006 Univ 1003 Res Loan App

Freddie Mac/Fanny Mae updated the form starting in Jan. 2006. Borrower's must sign at the top of page one. MAKE SURE THEY INITIAL THE BOTTOM OF PAGE ONE ALSO..seems redundent but they added the signature line at the top and left the initial lines at the bottom. Ridiculous! Below is part of the article...

"You may have already seen a change on some of the 1003 Universal Residential Applications (URLA), if not you should soon.

As of January 1, 2006 Lenders are suppose to be switching over to a new 1003-URLA. This new form will have a signature area in the upper right hand corner.

The understanding that we have on this is that when 2 people are applying for Joint Credit they have to sign this section. If it is a single borrower they do not have to sign."

Reply by Charles_Ca on 1/28/06 9:02pm
Msg #92147

Its not the Feds!

"Fannie Mae is a private, shareholder-owned company that works with its partners to make sure mortgage money is available for people in communities all across America." copied from the web site of Fannie Mae. Neither is Freddie Mac. The form 1003 actually does not have the block in the right but at the top of the form and just under the new statement. If someone would like a copy of the new form let me know I'll be glad to e-mail it to you. you knwo you are right there is a lot of malarkey on this site, I just happen to like it, malarkey and all!

Reply by BrendaTx on 1/28/06 11:41pm
Msg #92170

Charles - Yes, ditto on the malarkey...

but to be sure and let Flamac know. I am just popping off...gulp...I guess making more malarkey...certainly not aiming at him/her personally.

Reply by PAW_Fl on 1/28/06 9:03pm
Msg #92148

Re: It's the Feds..lol.. new 2006 Univ 1003 Res Loan App

>>> Freddie Mac/Fanny Mae updated the form starting in Jan. 2006. Borrower's must sign at the top of page one. MAKE SURE THEY INITIAL THE BOTTOM OF PAGE ONE ALSO..seems redundent but they added the signature line at the top and left the initial lines at the bottom. Ridiculous! <<<

The forms that FannieMae and FreddieMac submitted and was accepted, had the signatures for "joint application" to the left, beneath the new paragraph. And, there were no initials on the first three pages.

Initials on the pages are an option the lender has chosen to add. Additionally, the 1003 has been changed to letter size which expanded it to 5 pages.

You can view/download the FannieMae/FreddieMac approved version at my website (Forms menu option).

Reply by Charles_Ca on 1/28/06 9:08pm
Msg #92149

There you go, PAW come's through for the community! NM

Reply by pan/nd on 1/29/06 12:16am
Msg #92172

Re: It's the Feds..lol.. new 2006 Univ 1003 Res Loan App

Anybody know why, in fannie/freddie's infinite wisdom, they decided to put this at the TOP of
a page where the eye is not trained to go when looking for places to sign?

Doesn't it make more sense to put it at the bottom where one would normally look?

It just irks me that lenders or title companies or SS will complain about missed signatures with this and it all could have been avoided by putting the blamed thing where a logical person would look..AT THE BOTTOM OF THE PAGE.

Reply by BrendaTx on 1/29/06 12:21am
Msg #92173

Re: It's the Feds..lol.. new 2006 Univ 1003 Res Loan App

Had it not been for an earlier discussion on this form, I think I might have missed the new signature lines the other night.

Reply by Charles_Ca on 1/29/06 1:29am
Msg #92175

Darn, How could they possibly modify a form with out

consulting with pan/nd on the layout. I think you should write to Fannie Mae and Freddie Mac, and properly chastise them for such a stupid layout. After all, the notary, the most important function in the chain of succesion, needs to have a logical layout for a form or they won't know where the signatures go. Obviously reading is not an option!

Reply by pan/nd on 1/29/06 6:31pm
Msg #92226

Re: Darn, How could they possibly modify a form with out

Charles,

They did consult me. Obviously, they trashed my opinion.

Which gives rise to the fact that they don't care that I can't read or think.

But, who am I anyway but some schmuck off the street that somebody found to put a seal and a signature on some documents?

Reply by Charles_Ca on 1/29/06 10:34pm
Msg #92245

Looks like another NNA casualty!! nm

Reply by pan/nd on 1/29/06 11:58pm
Msg #92250

Re: Looks like another NNA casualty!! nm

yep, that's me for sure...another non-card carrying NNA hick that forgot to pay dues and they wouldn't take me back.